Air Products' Industry Experts will Present the Details of Recent Hydrogen Boiler Trials, as well as Information on Hydrogen's Role in Enhancing Microgrid Resilience

LEHIGH VALLEY, Pa., Feb. 10, 2025 /PRNewswire/ -- Air Products (NYSE:APD) will highlight how its industrial gases, such as hydrogen, can help the power industry generate a cleaner future and reach its decarbonization goals at POWERGEN International, from February 11-13, at the Kay Bailey Hutchison Convention Center in Dallas, Texas.

Q1 FY25 (comparisons versus prior year):

Fiscal 2025 and Recent Highlights

Seifi Ghasemi to Leave the Company Following More than 10 Years of Dedicated ServiceWayne T. Smith Named Board Chairman and Dennis H. Reilley Named Board Vice Chairman

LEHIGH VALLEY, Pa., Feb. 4, 2025 /PRNewswire/ -- Air Products' (NYSE: APD) Board of Directors today announced the appointment of Eduardo F. Menezes as Chief Executive Officer (CEO) of Air Products effective February 7, 2025, succeeding Seifollah ("Seifi") Ghasemi, who is leaving the Company after more than 10 years of dedicated service. Mr. Menezes will also join the Air Products Board.

Welcomes Andrew Evans, Paul Hilal, Bob Patel, Dennis Reilley and Alfred Stern

LEHIGH VALLEY, Pa., Jan. 23, 2025 /PRNewswire/ -- Air Products (NYSE: APD) today reported preliminary voting results from its 2025 Annual Meeting of Shareholders ("Annual Meeting") held on January 23, 2025.

Based on preliminary results, Air Products shareholders have chosen to elect the following nominees to serve on the Company's Board of Directors:

Marks 43rd Consecutive Year of Quarterly Dividend Increases on Company's Common Stock

LEHIGH VALLEY, Pa., Jan. 22, 2025 /PRNewswire/ -- The Board of Directors of Air Products (NYSE:APD) has increased the quarterly dividend on the Company's common stock to $1.79 per share, marking the 43rd consecutive year of dividend increases.

The dividend is payable on May 12, 2025 to shareholders of record at the close of business on April 1, 2025.

About Air Products Air Products (NYSE:APD) is a world-leading industrial gases company in operation for over 80 years focused on serving energy, environmental, and emerging markets and generating a cleaner future. The Company supplies essential industrial gases, related equipment and applications expertise to customers in dozens of industries, including refining, chemicals, metals, electronics, manufacturing, medical and food. As the leading global supplier of hydrogen, Air Products also develops, engineers, builds, owns and operates some of the world's largest clean hydrogen projects, supporting the transition to low- and zero-carbon energy in the industrial and heavy-duty transportation sectors. Through its sale of equipment businesses, the Company also provides turbomachinery, membrane systems and cryogenic containers globally.

Air Products' Annual Meeting is Less Than 48 Hours Away: Vote Your Shares Online Today at the Voting Website Listed on Your BLUE Proxy Card or Voting Instruction Form

Leading Proxy Advisory Firms ISS, Glass Lewis, and Egan-Jones Unanimously Recommend Replacing CEO Seifi Ghasemi and Others from the Board with Shareholder Nominees Proposed by Mantle Ridge

Mantle Ridge Urges Shareholders to Vote Online "FOR" the Four Independent Shareholder Nominees – Andrew Evans, Paul Hilal, Tracy McKibben, and Dennis Reilley – and "WITHHOLD" On Company Nominees Charles Cogut, Lisa A. Davis, Seifollah "Seifi" Ghasemi, and Edward L. Monser

The Board Expects the Following: After the Announcement of a New President No Later Than March 31st, the CEO Transition Will Be Completed Within Three Months of Joining the Company. Additionally, the Roles of Chair and CEO Will Be Separated, a New Independent Chair Appointed, and Mr. Ghasemi Will Retire from the Board

Air Products' Highly Qualified Board Is Significantly Refreshed with Outside Perspectives

Our Independent Directors Are Running a Rigorous and Orderly CEO Succession Process

Achieved Strong Preliminary Fiscal Q1 2025 Earnings Results (GAAP EPS of $2.77; adjusted EPS of $2.86)1 Which Reinforce that the Company is Committed to Creating Superior Shareholder Value

Change is In the Air: Mantle Ridge's Four Shareholder Nominees Will Help the Board Usher in a Brighter Future

All of the Leading Independent Proxy Advisory Firms – ISS, Glass Lewis, and Egan-Jones – Recommend Replacing CEO Seifi Ghasemi and Other Board Members with Mantle Ridge Nominees

Air Products' January 23, 2025 Annual Meeting is Fast Approaching: Vote Your Shares As Soon As Possible Online at the Voting Website Listed on Your BLUE Proxy Card or Voting Instruction Form

Mantle Ridge Urges Shareholders to Vote Online "FOR" All Four of its Superbly Qualified Director Nominees – Andrew Evans, Paul Hilal, Tracy McKibben, and Dennis Reilley – and "WITHHOLD" On Company Nominees Charles Cogut, Lisa A. Davis, Seifollah "Seifi" Ghasemi, and Edward L. Monser

Company to Release Full Q1FY25 Results and Host Teleconference on February 6, 2025

LEHIGH VALLEY, Pa., Jan. 14, 2025 /PRNewswire/ -- Air Products (NYSE:APD) today announced preliminary fiscal 2025 first quarter GAAP earnings per share# ("EPS") of $2.77 and preliminary fiscal 2025 first quarter adjusted EPS* of $2.86. Preliminary adjusted EPS exceeds the top end of the Company's previous fiscal 2025 first quarter adjusted EPS guidance* of $2.75 to $2.85.

Full interim consolidated financial statements as of and for the quarter ended December 31, 2024 are not yet complete as of the date of this press release. The preliminary earnings per share information presented above is based upon information available as of the date of this press release and is subject to change upon completion of all quarter-end close processes, as well as the possible occurrence of interim events prior to the issuance of our full financial statements. Accordingly, undue reliance should not be placed on this preliminary unaudited financial information. Please also refer to the "Forward-Looking Statements" provided below.

Egan-Jones Finds "Many Compelling Reasons to Support Mantle Ridge's Case for Change" and States that "Voting for the Mantle Ridge Nominees is in the Best Interest of the Company and its Shareholders" 

Asserts "Mismanagement and the Absence of Effective Leadership" Have "Significantly Eroded Shareholder Value" and that "Mr. Seifi Ghasemi is Not the Right Leader to Unlock the Full Potential of Air Products"

Calls Out "Absence of a Clear CEO Succession Plan" 

Finds "Entrenched and Unqualified CEO" Seifi Ghasemi "Seeks to Maintain Control for as Long as Possible"; Finds "Prioritizing his Self-Serving Agenda over the Shareholders' Best Interests" a "Breach of Mr. Ghasemi's and the Board's Fiduciary Duties"